La Jolla's "Razor" house fails to sell at auction

"The Razor" home in La Jolla will go up for auction on Nov. 10. The 11,000-square-foot home is constructed out of white polished concrete and designed by note architect Wallace E. Cunningham. Shown here: a courtyard and living areas with ...
— K.C. Alfred / Union-Tribune staff

Background

"The Razor," a luxury bankruptcy home in La Jolla, failed to sell at a Thursday auction, the listing agency said.

None of the bidders came close to what the bank will accept, at least $17 million, said Violet Simpson, a spokeswoman for Beverly Hills-based Hurwitz James Company. The auction, held at a San Diego law office, lasted about five minutes.

Bankruptcy records show the original Sept. 27 auction for the 11,000-square-foot home was not held because there were no qualified bidders. It was rescheduled to Nov. 10, with the starting bid decreased to $13.9 million from the $16 million set in September.

The never-occupied home, at 9826 La Jolla Farms Road, is the bankruptcy estate of Jimmy Donald Cooksey Jr., according to public records.

What's next for the home and the listing agency?

"We're not sure," said Simpson, of the listing agency.

The oceanfront home, which has private access to Black's Beach, is the work of San Diego-based architectural designer Wallace E. Cunningham, named one of Architectural Digest's Top 100 Designers.

About $34 million was spent building the estate, which was once featured in television commercials for Calvin Klein and Visa. The original asking price was $45 million.